The ASX 200 finished higher today, with the market spending much of the session in positive territory as investors worked through a busy day of reporting season before the RBA took centre stage in the afternoon. The index briefly pushed toward 9,275 following the decision to leave rates unchanged at 4.35%, before giving back some of the move into the close as Governor Michele Bullock made it clear the Board remains a long way from declaring victory over inflation.
The ASX eased from near-record highs today as investors turned more selective ahead of a busy week for domestic earnings and monetary policy. Financials were the clear drag after Westpac reported, while strength across materials and gold helped offset some of the weakness.
The ASX 200 finished essentially flat, though it did recover from early weakness, having pulled back and tested this week’s breakout level (~9200), before pushing higher – a positive technical sign. After resetting record highs twice this week, the market moved into more of a holding pattern ahead of next week’s heavier reporting calendar, with strength across materials and technology offset by weakness in the banks and selected healthcare names.
The ASX 200 closed at another record high, briefly trading as high as 9,296 before settling up +44 pts. Materials did the heavy lifting as copper reached fresh records in New York and London, while gold extended its strongest rally in six months. Hopes that a temporary shipping arrangement could restore some traffic through the Strait of Hormuz also continued to support sentiment ahead of the main phase of reporting season next week.
Bang! The ASX closed at a fresh record high today at 9,227, with around 75% of the market finishing higher. Some of the more beaten-up areas are also showing signs of life, with software a clear example following better SaaS earnings from the US. Hopes of a lasting peace deal with Iran are also helping sentiment, although we’ll believe that one when we see it.
It’s days like this that reinforce the importance of staying invested, participating in markets despite the negative headlines and bearish rhetoric, and, above all, remaining patient. With SPI futures flat this morning, investors took the bull by the horns, buying equities and pushing the ASX to its highest level since March as easing oil prices encouraged a rotation back into growth stocks, banks and healthcare. The rally was broad, with nine of the eleven sectors finishing higher and the local market comfortably outperforming modest gains in US futures.
The ASX 200 recovered from a weak start to finish +42pts higher today, a good ~80pt turnaround from the lows with utilities, industrials and consumer discretionary stocks leading the advance. Australian futures had initially pointed to a decline of around 1%, but sentiment improved after President Donald Trump called off planned strikes against Iran and pushed for renewed negotiations, reducing the immediate risk of a larger regional conflict.
The ASX 200 finished modestly higher today, securing a fourth consecutive monthly gain despite giving back most of an early rally. The index traded as high as 9,059 before closing just +9 pts higher (down ~85pts from the open), with strong gains across materials, selected technology names and gold miners offset by weakness in healthcare, consumer staples and communications.
The ASX 200 snapped a three-day winning streak today, retreating from yesterday’s five-month high as investors reduced risk following a sharp sell-off in the US. Materials and consumer stocks under most pressure, although strength across technology and selected energy names helped cushion the decline.
The ASX 200 hit a five-month high today after softer-than-expected inflation all but removed the prospect of an August interest-rate hike with healthcare, consumer discretionary and consumer staples leading a broad-based rally.
The ASX eased from near-record highs today as investors turned more selective ahead of a busy week for domestic earnings and monetary policy. Financials were the clear drag after Westpac reported, while strength across materials and gold helped offset some of the weakness.
The ASX 200 finished essentially flat, though it did recover from early weakness, having pulled back and tested this week’s breakout level (~9200), before pushing higher – a positive technical sign. After resetting record highs twice this week, the market moved into more of a holding pattern ahead of next week’s heavier reporting calendar, with strength across materials and technology offset by weakness in the banks and selected healthcare names.
The ASX 200 closed at another record high, briefly trading as high as 9,296 before settling up +44 pts. Materials did the heavy lifting as copper reached fresh records in New York and London, while gold extended its strongest rally in six months. Hopes that a temporary shipping arrangement could restore some traffic through the Strait of Hormuz also continued to support sentiment ahead of the main phase of reporting season next week.
Bang! The ASX closed at a fresh record high today at 9,227, with around 75% of the market finishing higher. Some of the more beaten-up areas are also showing signs of life, with software a clear example following better SaaS earnings from the US. Hopes of a lasting peace deal with Iran are also helping sentiment, although we’ll believe that one when we see it.
It’s days like this that reinforce the importance of staying invested, participating in markets despite the negative headlines and bearish rhetoric, and, above all, remaining patient. With SPI futures flat this morning, investors took the bull by the horns, buying equities and pushing the ASX to its highest level since March as easing oil prices encouraged a rotation back into growth stocks, banks and healthcare. The rally was broad, with nine of the eleven sectors finishing higher and the local market comfortably outperforming modest gains in US futures.
The ASX 200 recovered from a weak start to finish +42pts higher today, a good ~80pt turnaround from the lows with utilities, industrials and consumer discretionary stocks leading the advance. Australian futures had initially pointed to a decline of around 1%, but sentiment improved after President Donald Trump called off planned strikes against Iran and pushed for renewed negotiations, reducing the immediate risk of a larger regional conflict.
The ASX 200 finished modestly higher today, securing a fourth consecutive monthly gain despite giving back most of an early rally. The index traded as high as 9,059 before closing just +9 pts higher (down ~85pts from the open), with strong gains across materials, selected technology names and gold miners offset by weakness in healthcare, consumer staples and communications.
The ASX 200 snapped a three-day winning streak today, retreating from yesterday’s five-month high as investors reduced risk following a sharp sell-off in the US. Materials and consumer stocks under most pressure, although strength across technology and selected energy names helped cushion the decline.
The ASX 200 hit a five-month high today after softer-than-expected inflation all but removed the prospect of an August interest-rate hike with healthcare, consumer discretionary and consumer staples leading a broad-based rally.
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